2008 May Be Tough Year for Trucks
By Brendan Moore
As we reported recently, there is considerable belief that 2008 could be the worst year for new vehicle sales since 1993. And it appears that sales of pickup trucks took the brunt of the softening market in 2007, and may look much worse in 2008.
Recent articles like today’s piece in the New York Times detail just how much pickups took it on the chin in 2007. Even with the market excitement among consumers guaranteed by the new Ford F-150 (it’s a great piece of work; I’ve seen it) being scheduled for introduction at the Detroit Auto Show in a couple of weeks, and the new Dodge Ram scheduled for a February unveiling in Chicago, 2008 is just not looking good for pickups.
The Ford F-150 pickup truck has been the best-selling vehicle in the United States for decades. Not merely the best-selling truck (31 years in a row), but the best-selling vehicle among both cars and trucks for 26 straight years. In that regard, it is an excellent barometer of the new vehicle market in the United States. It is no exaggeration to say that if sales of the F-150 catch cold, the overall market will probably get pneumonia.
Hopefully neither of those things will happen, but the signs are not looking good.
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